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output
’Inflating the output gap at the BoE
. . . the risks to the Committee’s central view of a gradual recovery of output remain to the downside.
That’s Bank of England governor Mervyn King testifying to the UK Treasury Committee about the February inflation report.
Chinese yuan appreciation pressure mounts
Chinese industrial output in October accelerated at its fastest rate in seven months, according to figures released on Wednesday.
Analysts are now cautioning that sort of rebound will only heighten pressure on China to appreciate its currency versus the US dollar as exports rebound and domestic focus once again is forced to turn to inflation.